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Research papers on Financial literacy

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  1. Convergent and discriminant validation by the multitrait-multimethod matrix.

    Donald T. Campbell, Donald W. Fiske · 1959 · Psychological Bulletin · 17,213 citations

    This data set was collected to examine the eHealth Literacy Scale as a means of assessing eHealth literacy among German athletes. In this context, we pursued two objectives with this study: first, to test the factorial structure of the GR-eHEALS and assess its construct validity by examining both convergent and discriminant validity; and second, to examine the associations between eHealth literacy and health-related outcomes (i.e., substance use and injuries). This digital survey was conducted as a cross-sectional study, adhering to the approval guidelines of the Ethics Committee of the Faculty of Medicine at the University of Duisburg-Essen (19-8947-BO). Prior to the survey, each participan

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  4. Conceptualizing AI literacy: An exploratory review

    Davy Tsz Kit Ng, Jac Ka Lok Leung, Samuel Kai Wah Chu, et al. · 2021 · Computers and Education Artificial Intelligence · 1,815 citations

    Artificial Intelligence (AI) has spread across industries (e.g., business, science, art, education) to enhance user experience, improve work efficiency, and create many future job opportunities. However, public understanding of AI technologies and how to define AI literacy is under-explored. This vision poses upcoming challenges for our next generation to learn about AI. On this note, an exploratory review was conducted to conceptualize the newly emerging concept “AI literacy”, in search for a sound theoretical foundation to define, teach and evaluate AI literacy. Grounded in literature on 30 existing peer-reviewed articles, this review proposed four aspects (i.e., know and understand, use a

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  5. Financial Literacy and Planning: Implications for Retirement Wellbeing

    Annamaria Lusardi, Olivia Mitchell · 2011 · National Bureau of Economic Research · 1,266 citations

    Relatively little is known about why people fail to plan for retirement and whether planning and information costs might affect retirement saving patterns. This paper reports on a purpose-built survey module on planning and financial literacy for the Health and Retirement Study which measures how people make financial plans, collect the information needed to make these plans, and implement the plans. We show that financial illiteracy is widespread among older Americans, particularly women, minorities, and the least educated. We also find that the financially savvy are more likely to plan and to succeed in their planning, and they rely on formal methods such as retirement calculators, retirem

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  7. Financial Literacy, Retirement Planning and Household Wealth

    M.C.J. van Rooij, Annamaria Lusardi, Rob Alessie · 2012 · The Economic Journal · 946 citations

    Relying on comprehensive measures of financial knowledge, we provide evidence of a strong positive association between financial literacy and net worth, even after controlling for many determinants of wealth. We discuss two channels through which financial literacy might facilitate wealth accumulation. First, financial knowledge increases the likelihood of investing in the stock market, allowing individuals to benefit from the equity premium. Second, financial literacy is positively related to retirement planning and the development of a savings plan has been shown to boost wealth.

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  8. The Economic Importance of Financial Literacy: Theory and Evidence

    Annamaria Lusardi, Olivia S. Mitchell · 2013 · National Bureau of Economic Research · 832 citations

    In this paper, we undertake an assessment of the rapidly growing body of research on financial literacy. We start with an overview of theoretical research which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfare as well as policies intended to enhance levels of financial knowledge in the larger population. Next, we draw on recent surveys to establish how much (or how little) people know and identify the least financially savvy population subgroups. This is followed by an examination of the impact of financial literacy on economic decision-making in the United States and elsewhere. While the literature is

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  9. Household Saving Behavior: The Role of Financial Literacy, Information, and Financial Education Programs

    Annamaria Lusardi · 2008 · National Bureau of Economic Research · 486 citations

    Individuals are increasingly in charge of their own financial security after retirement. But how well-equipped are individuals to make saving decisions; do they possess adequate financial literacy, are they informed about the most important components of saving plans, do they even plan for retirement? This paper shows that financial illiteracy is widespread among the U.S. population and particularly acute among specific demographic groups, such as those with low education, women, African-Americans, and Hispanics. Moreover, close to half of older workers do not know which type of pensions they have and the large majority of workers know little about the rules governing Social Security benefit

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  10. Financial literacy, financial advice, and financial behavior

    Oscar Anselm Stolper, Andreas Walter · 2017 · Journal of Business Economics · 469 citations

    In this survey, we review the voluminous body of literature on the measurement and the determinants of financial literacy. Wherever possible, we supplement existing findings with recent descriptive evidence of German households’ financial literacy levels based on the novel Panel on Household Finances dataset, a large-scale survey administered by the Deutsche Bundesbank and representative of the financial situation of households in Germany. Prior research not only documents generally low levels of financial literacy but also finds large heterogeneity in financial literacy across the population, suggesting that economically vulnerable groups are placed at further disadvantage by their lack of

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  11. Against Financial Literacy Education

    Lauren E. Willis · 2008 · 385 citations

    The dominant model of regulation in the United States for consumer credit, insurance, and investment products is disclosure and unfettered choice. As these products have become increasingly complex, consumers’ inability to understand them has become increasingly apparent, and the consequences of this inability more dire. In response, policymakers have embraced financial literacy education as a necessary corollary to the disclosure model of regulation. This education is widely believed to turn consumers into “responsible” and “empowered” market players, motivated and competent to make financial decisions that increase their own welfare. The vision is of educated consumers handling their own c

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  12. Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?

    Tim Kaiser, Lukas Menkhoff · 2017 · The World Bank Economic Review · 348 citations

    Abstract In a meta-analysis of 126 impact evaluation studies, we find that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lower-middle–income economies. Specific behaviors, such as the handling of debt, are more difficult to influence and mandatory financial education tentatively appears to be less effective. Thus, intervention success depends crucially on increasing education intensity and offerin

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  13. Financial Literacy and Financial Behavior among Young Adults: Evidence and Implications

    Carlo de Bassa Scheresberg · 2013 · Numeracy · 292 citations

    This paper uses data from the 2009 National Financial Capability Study to examine financial literacy and financial behavior in a sample of approximately 4,500 young adults age 25 to 34. The paper finds that most young adults lack basic financial knowledge. Financial literacy is especially low among certain demographic groups, such as women, minorities, and lower-income or less-educated people. A high level of education, however, is not a guarantee of financial literacy. Only 49% of young respondents with a college education and 60% of young respondents with postgraduate education could correctly answer three simple questions designed to assess financial literacy. Results show that respondent

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  15. Influence of Financial Literacy and Use of Financial Technology on Financial Satisfaction through Financial Behavior

    Mamik Nur Farida, Yoyok Soesatyo, Tony Seno Aji · 2021 · International Journal of Education and Literacy Studies · 29 citations

    Financial behavior is a means by which a person treats, manages, and uses available financial resources. This research aims to determine the effect of financial literacy and the use of financial technology on financial satisfaction through financial behavior as an intervening factor. Data were collected from 112 economics teachers using purposive proportional random sampling technique. Structural Equation Modeling (SEM) with AMOS 26 software was used to analyze the data. The results of this research indicate that financial literacy has no effect on financial behavior, but the use of financial technology has an effect on financial behavior, financial literacy and the use of financial technolo

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  16. The Effect of Financial Literacy, Income and Self Control on Financial Behavior Generation Z (Study on Generation Z Financial Behavior in Bekasi Regency)

    Gea Trivani, Erin Soleha · 2023 · Economic Education Analysis Journal · 6 citations

    Financial behavior is an important thing to pay attention to, with good financial behavior a person will beable to meet his needs both from the short and long term.  The purpose of this study was to determine and analyze the effect  of financial literacy, income and self-control on thelimited financial behavior of  generation Z.  The population of this study is generation Z in Bekasi Regency.  This studyused quantitative research with data collection techniques using questionnaires.  The sampling technique in this study is by using urposive sampling techniques, so that the number of samples inthis study was 100 respondents. And the technique of data analysis inthis research is using Structur

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  17. Pengaruh Financial Literacy, Financial Attitude, Financial Technology, Sefl-Control, dan Hedonic Lifestyle terhadap Financial Behavior pada Generasi Z di Jawa Timur

    Nabila Ganes Putri Utami, Yuyun Isbanah · 2023 · Jurnal Ilmu Manajemen · 2 citations

    Generasi Z merupakan populasi terbesar di Indonesia. Namun, generasi Z memiliki kualitas perilaku keuangan yang terus menurun. Penelitian ini bertujuan untuk mengetahui pengaruh financial literacy, financial attitude, financial technology, self-control, dan hedonic lifestyle terhadap financial behvaior pada generasi Z di Jawa Timur. Jenis data yang digunakan adalah data kuantitatif yang bersumber dari data primer. Populasi penelitian ini adalah generasi Z di Jawa Timur. Teknik pengambilan sampel menggunakan purposive sampling dan diperoleh 297 responden sebagai sampel dalam penelitian ini. Adapun karakteristik responden merupakan generasi Z yang berusia 17-26 tahun serta memiliki atau pernah

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  18. Financial Education, Parent's Income, Financial Literacy on Financial Management Behavior through Self-Financial Efficacy in Students

    Muhammad Syarifuddin Ahzab, Dies Nurhayati, Etta Mamang Sangadji · 2023 · International Journal of Economic Research and Financial Accounting (IJERFA) · 1 citations

    Globalization is marked by the rapid advancement of technology, which will impact human thinking patterns and tend to encourage individuals to get trapped in consumer behavior. The lack of financial literacy makes society vulnerable to financial problems. Therefore, the importance of the role of both the community and the government in providing education on financial literacy is crucial. One of the government's roles, through OJK, is to provide education on Financial Literacy to the public, especially students and scholars. The community's role can start from within the family circle, by educating children about family financial management from an early age. Consequently, financial educatio

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  19. Financial Prosperity of Households through Financial Literacy, Financial Management Behavior and Financial Participation: Empirical Study

    S. M. Riha Parvin, Niyaz Panakaje · 2022 · International Journal of Case Studies in Business, IT, and Education · 1 citations

    Objective: Financial Prosperity of any households is the major aim of developing countries as it highly determines the economic status of a country. As a result, this research was performed to examine many elements influencing the Financial Prosperity (FWB) of households in the Dakshina Kannada region. Simultaneously, researchers aim to analyse Financial Prosperity enhancement through Financial participation (FI), financial literacy (FL) and Financial Management Behavior (FB). Methodology: The set of questions in a well-thought-out form was utilized to gather data for this research. The data collection survey received 398 replies, which were then analysed using a range of statistical approac

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  20. Financial Behavior Determinants and Literacy Gaps Among Vietnamese University Students: Evidence for Early-Stage Financial Education Policy

    Trung Hai TRAN · 2025 · Journal of Economics, Finance And Management Studies

    This study investigates the determinants of financial behaviour and literacy gaps among Vietnamese university students, providing empirical evidence for early-stage financial education policy development. Through a comprehensive quantitative analysis employing structural equation modelling (SEM) and fuzzy-set qualitative comparative analysis (fsQCA), the research examines the complex relationships between financial knowledge, attitudes, behaviours, and socio-demographic factors among 487 university students across Hanoi's leading institutions. The findings reveal significant literacy gaps in investment knowledge and debt management, with financial attitudes serving as a critical mediating fa

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  21. The Influence of Financial Literacy and Financial Behavior on Financial Well-being Moderated by Family Economic Education

    Dhani Aliffansyah, Sudarno, Muhammad Sabandi · 2024 · Economic Education Analysis Journal

    This study aims to (1) the effect of financial literacy on financial well-being of UNS students; (2) the effect of financial behavior on financial well-being of UNS students; (3) the effect of family economics education in strengthening financial literacy and financial behavior on financial well-being of UNS students. This research was quantitative research with a population of UNS students. This study used 269 samples by using probably sampling technique. The data collection technique was used a Likert scale of 1-5 points and a dummy variable which was distributed directly via the Google form. Test the validity of the instrument using Confirmatory Factor Analysis (CFA) and test the reliabil

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  22. PENGARUH FINANCIAL ATTITUDE, FINANCIAL EDUCATION, FINANCIAL KNOWLEDGE, FINANCIAL EXPERIENCE, DAN FINANCIAL BEHAVIOR TERHADAP FINANCIAL LITERACY PADA PELAJAR KOTA BATAM

    Dewi Khornida Marheni · 2020 · Journal of Global Business and Management Review

    Penelitian ini memiliki tujuan dalam menganalisa hubungan dari beberapa variabel yaitu Financial Attitude, Financial Education, Financial Knowledge, Financial Experience, dan Financial Behavior terhadap Financial Literacy pada Pelajar yang ada di Kota Batam. Pada penelitian ini menggunakan pendekatan kuantitatif, serta data primer yang menjadi sumber data yang dikumpulkan melalui penyebaran kuesioner sebanyak 450 responden yang berupa pelajar di Kota Batam. Beberapa kuesioner tidak dapat diolah karena tidak diisi dengan lengkap, setelah terkumpul data tersebut diolah melalui aplikasi perangkat lunak dengan nama SPSS versi 23. Hasil penelitian menyatakan bahwa financial attitude dan financial

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